This is to inform that I have purchased a commercial property from a person 'X' who had in turn purchased the same property from a builder(1st transaction of the property).The person X had informed me that the original title deed of the above property has been lost/misplaced and we had executed sale deed without the original title deed.
I had verified the title of the property and have also checked for the encumbrances on the above property from the concerned registrar office and found that the property was clear.Furthur I had also issued caution notice before the execution of sale deed in 2 leading local newspapers regarding the purchase of the property and had not received any objections.
Recently a co-operative bank has claimed that the person X had borrowed loan from the bank by mortgaging the above property.The bank and the person X had executed a simple mortgage deed(unregistered) for the above loan.
Now the bank is demanding the possession of the property to sell the property.Kindly inform me what to do.
